July 22, 2005
ROMNEY APPROVES TAX-FREE SHOPPING HOLIDAY
Governor Mitt Romney today signed into law a bill establishing a two-day tax holiday and encouraged consumers to shop during the weekend of August 13 and 14 without worrying about paying sales tax.
“We’re sending taxes in Massachusetts on a little summer vacation,” said Romney. “Everyone should head out to their favorite stores to take advantage of the tax-free holiday.”
The upcoming sales tax holiday weekend exempts individuals from paying the state’s five percent sales tax on purchases up to $2,500. Motor vehicles, motorized boats, utility payments, tobacco products and meals are excluded from tax-free shopping.
“The sales tax holiday in Massachusetts is among the most generous in the nation,” said Jon Hurst, President of the Retailers Association of Massachusetts. “We are hopeful that consumers will take advantage of the holiday and give local retailers a boost during what is usually a slow time of year.”
The Department of Revenue estimates that consumers will save more than $14 million in sales taxes and retailers will generate about $300 million in sales during the tax-free weekend.
For more information on the sales tax holiday weekend, visit the Department of Revenue’s website at www.mass.gov/dor.
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